Bank of Lithuania
2021-04-13
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Today, the Bank of Lithuania published the balance of payments for February 2021, which shows that:

although the surplus on the current account balance (CAB) contracted by 16.8%, the CAB remained in surplus and amounted to €244.1 million (see Chart 1). The decline in the surplus was determined by the foreign trade balance that turned from surplus to deficit and higher deficit in the secondary income balance. The foreign trade deficit of €3.7 million resulted from the imports of goods (10.7%) which grew faster than the exports of goods (5.0%). With the rise in exports and imports of services (by 23.6% and 33.0% respectively), the surplus of the balance of services went up (by 11.2%) and amounted to €353.0 million;

the deficit of the secondary income balance increased and amounted to €20.0 million. Transfers from EU support funds increased 2.8 times and amounted to €36.7 million, while Lithuania’s calculated contributions to the EU budget went up by 39.6% month on month and amounted to €84.0 million. Personal transfers from abroad amounted to €47.4 million, a month-on-month decrease of 9.3%. Personal transfers from Lithuania amounted to €17.3 million, declining over the month by 9.9%;

the negative net flow of financial account investment (€84.3 million) resulted from the negative net flows of direct and other investment, which were not offset by the positive net flow of portfolio investment and positive official reserve assets, despite their decline (see chart 2).

Chart 1. CAB and its composite flows

Chart 2. Net financial account investment flows

Detailed data for February 2021 is available on the Bank of Lithuania website (External statistics).

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